Market Research Report
UAE OTR Tire Market, By Vehicle Type, By Demand Category, By Rim Size, By Tire Construction, By Region, Competition Forecast & Opportunities, 2026
|UAE OTR Tire Market, By Vehicle Type, By Demand Category, By Rim Size, By Tire Construction, By Region, Competition Forecast & Opportunities, 2026|
Published: January 1, 2022
Content info: 71 Pages
Delivery time: 2-3 business days
UAE OTR tire market was valued USD88.84 million in 2020, in value terms, and is expected to grow at a CAGR of 6.79% in the forecast period, 2022-2026 to reach USD136.01 million by 2026. OTR tires provide higher traction over rough surfaces and provide enhanced vehicle performance, high heat and rolling resistance, higher mobility, and durability, among other benefits, and therefore are in high demand in the UAE. The rise in the initiatives taken by the leading authorities to promote the infrastructural development of the country such as the Abu Dhabi Metro project to boost the economic status is expected to increase the demand for medium and heavy commercial vehicles. The government is making efforts to diversify the income sources to generate alternative income sources to stabilize the economic position of the country which in turn is fueling the UAE OTR tire market growth. The surge in the efforts made by the market players to increase the dealerships and the introduction of novel tires to attract more customers is expected to influence the market growth. The growth of the agricultural sector is increasing the demand for tractors and agricultural vehicle equipment. The growing trend of adoption of automation technologies to carry out manual tasks during agricultural tasks which are cost-effective and provide higher efficiency is contributing to the increased OTR demand in the gulf country.
UAE OTR tire market is segmented into vehicle type, demand category, rim size, tire construction, regional distribution, and company. On the basis of tire construction, the market is categorized into radial and bias. Among them, the radial tires segment is projected to advance with the faster growth rate in the market. Radial OTR tire penetration in the market is gaining momentum across the country, due to features such as better control, high durability and better fuel efficiency as well as enhanced load carrying capacity. Although radial OTR tires come at a higher price as compared to the bias OTR tires, UAE is witnessing an increase in demand for radial tires as they are more durable and thus, have high replacement time as compared to bias tires. Moreover, all major tire manufacturers are emphasizing on restructuring and expanding their production facilities to cater to the rising demand for OTR radial tires. Owing to this, the demand for radial OTR tires is expected to swell over the next five years. On the basis of regional analysis, Dubai is expected to account for major market share during the forecast period, 2022-2026. The rise in the initiatives of the leading authorities to transform Dubai into smart Dubai is fueling the construction activities, which in turn is propelling the OTR tire market's growth in the region.
The major players operating in the UAE OTR tire market are Yokohama Tyres UAE, Trelleborg Wheel Systems Middle East Ltd., Michelin Tyres, Balkrishna Industries Limited (BKT), Continental ME, Goodyear Middle East FZE, Bridgestone Middle East FZE, TVS Srichakra Limited, Apollo Tyres Middle East FZE, Peltas Tyres (AKO Group), among others. Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new propduct developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of UAE OTR tire market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, UAE OTR tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Up to 25"
Rest of UAE
Company Profiles: Detailed analysis of the major companies present in UAE OTR tire market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: